What you need to know:
- Following its bankruptcy filing in February, Nikola Motors is now selling its remaining intellectual property.
- Hilco Global is facilitating the sale, with a non-binding interest deadline set for June 18.
- Some assets include: 190+ patents (U.S. and international) in areas like battery systems, hydrogen fuel cells, thermal management; 170+ trademarks; 5 million miles of EV truck data from real-world use; and domain names, including NikolaMotor.com.
- Former competitors and OEMs may buy the assets to integrate into their technologies or to block others from acquiring them.
The intellectual property developed by bankrupt Nikola Motors is now up for sale with financial services company Hilco Global hired to facilitate the process.
A non-binding indication of interest deadline has been set for June 18.
Nikola filed for bankruptcy in February. Last month, Clean Trucking reported over $114 million worth of Nikola's hydrogen fuel cell (FCEV) trucks and other related raw materials were listed for sale by Gordon Brothers auction house.
[Related: Over $114M worth of Nikola hydrogen trucks, raw materials up for auction]
Prior to declaring bankruptcy, Nikola sold its battery assets to Mullen Automotive. More recently, passenger EV manufacturer Lucid Group acquired Nikola's Arizona factory and other critical assets. It also offered jobs to 300 Nikola employees.
[Related: Lucid wins Nikola bankruptcy auction, buys factory and assets]
Hilco Global did not provide details as to how much these IPs are currently worth.
Nikola's last call
This latest auction is, perhaps, the most critical because it represents the last remaining elements of a once promising company that had a market valuation of over $30 billion when it went public in 2020.
Among the assets listed for sale include domain names including NikolaMotor.com, over 190 active U.S. & international patents and applications, full stack vehicle-to-cloud EV truck management software platform, over 170 U.S. and international registered and pending trademarks, and 5 million road miles worth of EV truck analytics and intelligence data.
Nikola's active patent portfolio includes technologies involving battery systems, drivetrain & power management, fuel cell and hydrogen systems, and thermal management.
The complete digital EV truck software platform, according to the listing, "offers accelerated time to market with a superior SDV program. The software is comprised of 3.5+ million lines of code across vehicle, thermal, body, and frame controls, as well as 750k+ lines of code related to its digital cockpit software."
Nikola's three years worth of collected data for its battery-electric (BEV) and FCEV platforms, gathered via approximately 56,000 annual real customer routes, could also be highly valuable on the open market.
Potential buyers
There are former Nikola competitors who could be interested in purchasing some or all of these intangible assets, with the purpose of incorporating them into existing technologies and products. Another motivation could simply be to get these assets off the market entirely.
In May, Clean Trucking was told by a former high-level Nikola employee who wishes to remain anonymous that Hyundai, with its deep pockets, is one potential buyer since it has an active and growing FCEV program with its XCIENT Class 8 semi.
[Related: Nikola's collapse brings headaches, financial problems for fleets]
Additional legacy OEMs involved in FCEV semi include Daimler Trucks, Kenworth, Toyota and, most recently, Honda.
[Related: Honda to debut new hydrogen fuel cell module at ACT Expo]
Energy companies, infrastructure providers, and investment firms may also show interest. Globally, the zero-emission vehicle market is projected to grow by almost $500 million through 2023, according to a report from Global Market Insights.
Nikola's battery system patents, not included in the assembly line hardware sale to Mullen, could spark interest for several potential suitors, such as Volvo Trucks, Mack, and Kenworth - all of whom currently sell BEV Class 8 semis.
